£125m Advanced Manufacturing Supply Chain Initiative

The UK chemicals sector is named checked as a target for the fund, which aims to help existing UK supply chains grow and achieve world class standards while encouraging major new suppliers to come and manufacture here.  The fund has deliberately been designed to be flexible in the type of support offered to companies.  This support can be a combination of investment in capital equipment, associated research and development and improved skills and training support.

To read the full article please click here

The TSB will be administering and assessing bids and further details of the fund and how to apply will be provided shortly on the Technology Strategy Board’s website at www.innovateuk.org.

Companies will be invited to express interest in applying later this month and to bid formally early in the New Year.

There has also been a £1bn boost to the Regional Growth Fund. For further details of this please click here.

There will be at least two further rounds of bidding, with the next round opening during February 2012.  Further details about upcoming bidding rounds, including timings, funding allocations and application forms will be available in due course.  Although the guidance for round two can be found by clicking here.